Income Protection Insurance
What is Income Protection
How Income Protection Works
How Income Protection Works
If you become sick or disabled and are unable to work, income protection insurance will provide you with regular income until you return to work or retire. This insurance is also known as permanent health insurance.
It's important to note that the income you receive from this insurance may not replace the exact amount you were earning bef
If you become sick or disabled and are unable to work, income protection insurance will provide you with regular income until you return to work or retire. This insurance is also known as permanent health insurance.
It's important to note that the income you receive from this insurance may not replace the exact amount you were earning before you stopped working. Typically, you can expect to receive about half to two-thirds of your pre-tax earnings from your regular job. This is because some of the money will be deducted for the state benefits you can receive, and the income you receive from the policy is tax-free.
How Income Protection Works
How Income Protection Works
How Income Protection Works
Income protection insurance provides regular payments to replace a portion of your income if you can't work due to illness or injury. It pays out until you can work again, retire, die, or the policy term ends. The payout is typically 50% to 65% of your income, and the policy covers most illnesses that make you unable to work. The policy allows for multiple claims during its duration.
Benefits
How Income Protection Works
Benefits
- Provides a death benefit to pay off your mortgage in the event of your death
- Pays your mortgage payments if you become disabled
- Protects your mortgage payments in the event of critical illness
- Provides benefits from a life insurance policy with generally affordable premiums
- Achieves peace of mind for your home and family